Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

CANADA FX DEBT-C$ notches 2-week high before giving up its gains

Published 2017-11-09, 09:20 a/m
Updated 2017-11-09, 09:30 a/m
© Reuters.  CANADA FX DEBT-C$ notches 2-week high before giving up its gains

© Reuters. CANADA FX DEBT-C$ notches 2-week high before giving up its gains

* Canadian dollar at C$1.2724, or 78.59 U.S. cents

* Loonie touches its strongest in two weeks at C$1.2688

* Bond prices retreat across the yield curve

TORONTO, Nov 9 (Reuters) - The Canadian dollar was little changed on Thursday against its U.S. counterpart, steadying after posting a two-week high on a rise in oil prices and a broad decline for the greenback.

The U.S. dollar .DXY edged lower against a basket of major currencies, pressured by talk of possible delays to U.S. President Donald Trump's tax reform plans as well as a risk-averse mood. of oil, one of Canada's major exports, were supported by major exporter supply cuts, but analysts said the market could be vulnerable to a sell-off after several months of gains. crude CLc1 was up 0.16 percent at $56.90 a barrel.

At 8:52 a.m. ET (1352 GMT), the Canadian dollar CAD=D4 was little changed at C$1.2724 to the greenback, or 78.59 U.S. cents.

The currency's weakest level of the session was C$1.2740, while it touched its strongest since Oct. 25 at C$1.2688.

The loonie had added to gains it made after comments on Tuesday by Bank of Canada Governor Poloz.

In a speech and news conference, Poloz maintained a neutral tone on the next interest rate move, repeating the bank's message that it was monitoring wage growth and inflation, as well as how the economy was adjusting to rate hikes in July and September. home prices in Canada rose 0.2 percent in September from August, mostly on the strength of the Kelowna and Vancouver markets, Statistics Canada said on Thursday. The year-on-year gain was steady at 3.8 percent. government bond prices were lower across the yield curve in sympathy with U.S. Treasuries. The two-year CA2YT=RR dipped 2.5 Canadian cents to yield 1.439 percent, and the 10-year CA10YT=RR declined 15 Canadian cents to yield 1.937 percent.

On Wednesday, the 10-year yield touched a two-month intraday low of 1.879 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.